Texas Capital Bancshares (NASDAQ:TCBI) Upgraded by StockNews.com to Hold

StockNews.com upgraded shares of Texas Capital Bancshares (NASDAQ:TCBI) from a sell rating to a hold rating in a research report released on Monday morning.

Several other research analysts have also weighed in on the stock. Raymond James upgraded shares of Texas Capital Bancshares from a “market perform” rating to an “outperform” rating and set a $78.00 price objective on the stock in a report on Tuesday, September 17th. Hovde Group lifted their price target on shares of Texas Capital Bancshares from $73.00 to $79.00 and gave the company a “market perform” rating in a report on Friday. Citigroup restated a “sell” rating and set a $60.00 price objective on shares of Texas Capital Bancshares in a report on Monday, July 22nd. Truist Financial lifted their target price on Texas Capital Bancshares from $80.00 to $86.00 and gave the company a “hold” rating in a report on Monday. Finally, Bank of America upgraded Texas Capital Bancshares from an “underperform” rating to a “buy” rating and upped their price target for the stock from $51.00 to $77.00 in a research note on Monday, September 9th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $73.56.

Texas Capital Bancshares Stock Performance

Texas Capital Bancshares stock opened at $76.63 on Monday. The stock has a fifty day moving average price of $69.13 and a 200 day moving average price of $63.53. Texas Capital Bancshares has a 52 week low of $52.89 and a 52 week high of $82.25. The firm has a market capitalization of $3.54 billion, a P/E ratio of 425.72, a PEG ratio of 1.00 and a beta of 1.13. The company has a current ratio of 1.01, a quick ratio of 0.99 and a debt-to-equity ratio of 0.22.

Insider Buying and Selling

In other Texas Capital Bancshares news, Director Robert W. Stallings acquired 15,000 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were bought at an average cost of $20.00 per share, for a total transaction of $300,000.00. Following the acquisition, the director now directly owns 20,000 shares of the company’s stock, valued at $400,000. This trade represents a 300.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Robert W. Stallings acquired 15,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was bought at an average cost of $20.00 per share, with a total value of $300,000.00. Following the acquisition, the director now directly owns 20,000 shares in the company, valued at approximately $400,000. The trade was a 300.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert W. Stallings bought 4,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was bought at an average price of $20.62 per share, for a total transaction of $82,480.00. Following the purchase, the director now owns 12,794 shares in the company, valued at approximately $263,812.28. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 43,000 shares of company stock worth $866,100. 0.99% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. First Hawaiian Bank acquired a new stake in shares of Texas Capital Bancshares during the 2nd quarter valued at approximately $675,000. Hodges Capital Management Inc. lifted its holdings in shares of Texas Capital Bancshares by 24.2% in the 1st quarter. Hodges Capital Management Inc. now owns 146,850 shares of the bank’s stock worth $9,039,000 after purchasing an additional 28,650 shares during the last quarter. AQR Capital Management LLC lifted its stake in Texas Capital Bancshares by 87.0% in the second quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank’s stock valued at $65,219,000 after buying an additional 506,094 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Texas Capital Bancshares by 73.0% during the 1st quarter. BNP Paribas Financial Markets now owns 25,489 shares of the bank’s stock valued at $1,569,000 after purchasing an additional 10,752 shares during the period. Finally, TD Asset Management Inc increased its stake in shares of Texas Capital Bancshares by 26.6% in the second quarter. TD Asset Management Inc now owns 34,278 shares of the bank’s stock valued at $2,096,000 after purchasing an additional 7,200 shares during the period. Institutional investors and hedge funds own 96.88% of the company’s stock.

About Texas Capital Bancshares

Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, is a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs, and individual customers. The company offers commercial banking; consumer banking; investment banking solutions, including capital markets, mergers and acquisitions, and syndicated finance, as well as financial sponsor coverage, capital solutions, and institutional services; and wealth management services, such as investment management, financial planning, lockbox and insurance, securities-based lending, estate planning, and business succession, as well as philanthropic, trustee and executor, custom credit, and depository services.